Mass production of automobiles, electrical machinery, and steel was a feature of the ________ phase of the industrial revolution.
A. first
B. second
C. third
D. fourth
B. second
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The perceived specie shortage led colonists to invent:
(a) Country money (b) Paper money (c) Inflationary dollars (d) Conservative money
The movement of individuals and households from one income quintile to another over time is called:
A. income averaging. B. wealth turnover. C. income mobility. D. the ratchet effect.
Describe the trend in the rate of productivity from 1973 to 1995 and then from 1995 to 2012.
What will be an ideal response?
The inelastic demand for agricultural products means that relatively small increases in supply will result in a relatively:
A. Large decrease in farm prices and total revenue for farmers B. Small increase in farm prices and total revenue for farmers C. Small decrease in farm prices and a relatively large increase in total revenue for farmers D. Large increase in farm prices and a relatively small decrease in total revenue for farmers